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Buy-To-Let Advice (100k to invest)
polestar
Posts: 26 Forumite
Hi,
My partner and I currently in the enviable position of living mortgage free in our own (modest) home, we have a decent income and few outgoings.
We would like to move to the West Country (Cornwall or Devon) in the next couple of years and are considering investing our 100k savings in a 2 bed property that we could rent out (as holiday or residential let) until we are ready to move down ourselves.
We have never bought to let before and would appreciate any advice on where we should start! What questions should we be asking ourselves? Where can we go for more info? What are the main mistakes we should try to avoid? Is this a good idea or is it better to just leave the money in high interest accounts until we are ready to move down?
I am not sure how much we could expect to borrow with a 100K deposit and a 30k annual income. And am unsure if we would have difficulties with mortgage providers if we initially buy to let but intend to move in ourselves at a later date?
I am finding it hard to find much info on the web and will be very grateful for any ideas/advice anyone can offer to help get us started.
My partner and I currently in the enviable position of living mortgage free in our own (modest) home, we have a decent income and few outgoings.
We would like to move to the West Country (Cornwall or Devon) in the next couple of years and are considering investing our 100k savings in a 2 bed property that we could rent out (as holiday or residential let) until we are ready to move down ourselves.
We have never bought to let before and would appreciate any advice on where we should start! What questions should we be asking ourselves? Where can we go for more info? What are the main mistakes we should try to avoid? Is this a good idea or is it better to just leave the money in high interest accounts until we are ready to move down?
I am not sure how much we could expect to borrow with a 100K deposit and a 30k annual income. And am unsure if we would have difficulties with mortgage providers if we initially buy to let but intend to move in ourselves at a later date?
I am finding it hard to find much info on the web and will be very grateful for any ideas/advice anyone can offer to help get us started.
0
Comments
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Speak to a mortgage broker.
Have you ever managed a holiday let?0
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